TORONTO (miningweekly.com) – Vancouver-based IBC Advanced Alloys has received a second contract to produce components for the F-35 Lightning II electro-optical targeting system (EOTS), which makes use of IBC’s new disruptive beryllium-aluminium alloy casting process, known as Beralcast.
This purchase order extended production of a component contract, announced in September 2014, to produce the EOTS azimuth gimbal housing at its facilities in Wilmington, Massachusetts.
“This continues our substantial progress with Lockheed Martin since our initial purchase order was announced in 2014. To date, Beralcast casting alloys have had validation from Lockheed Martin and two other major aerospace companies, and we look forward to continuing to work with the aerospace industry to provide Beralcast solutions for complex aerospace applications where modulus and weight are key performance drivers,” IBC president and CEO Anthony Dutton said on Thursday.
With the announcement that business magnate Warren Buffett’s Berkshire Hathaway had agreed to buy aerospace and energy industries equipment maker Precision Castparts in a deal valued at $37.2-billion, including debt, the spotlight was now on the cast parts sector.
IBC Advanced Alloys could also be seen as a potential takeover target for a downstream manufacturer such as Alcoa, which had been diversifying its portfolio through megadeals this year when it acquired specialty metal products suppliers RTI International Metals, Firth Rixson and TITAL.
On July 13, IBC announced that it had delivered the first article components for low-rate initial production (LRIP) lots 7 and 8. This follow-on purchase order was for subsequent LRIP years and would cover new planes and related spares, and had a minimum contract value of more than $2-million.
The EOTS, produced by Lockheed Martin, was integrated on all F-35 variants, with planned production quantities estimated to be more than 3 000 aircraft with deliveries through 2035.